Britain is reported to be planning a trade and cooperation agreement with the European Union. Its aim is to address problems in the banking industry, which emerged after the UK left the EU via Brexit.
Evidently, the event left financial markets suffering. Therefore, by the end of March, an agreement between the two parties must be established.
"I see absolutely no reason why we can not fulfill a commitment," said Katharine Braddick, head of financial services at the UK Treasury Department.
Antony Manchester, managing director at BlackRock, added that Brexit brought international trade into question, aside from the fact that it disrupted European markets.
And now, large investors are looking forward to environmentally sound investments to combat climate change.
Countries are also fragmenting markets even further by limiting the flow of cross-border data between financial firms.
All this influenced GBP/USD to trade between 1.17 and 1.377.
Obviously, now is not the best time for a false breakout. Hence, avoid developing such in the market.
